Mineral Resources Limited (ASX: MIN) shareholders will be a little richer today as the company pays out its latest dividend.
The mining services company is rewarding its shareholders with a fully franked interim dividend of $1 per share.
At the time of writing, the Mineral Resources share price is down 0.41% to $69.67.
For context, the S&P/ASX 200 Index (ASX: XJO) is also heading south to edge 1.16% lower to 6,622.4 points.
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Mineral Resources pays out final dividend
Mineral Resources delivered a subdued performance for its full-year result for the 2022 financial year.
In summary, Mineral Resources reported an 8% decrease in revenue to $3.4 billion.
On the bottom line, underlying net profit after tax (NPAT) slid 64% to $400 million.
Behind the result was record iron ore exports offset by lower realised prices due to weakened Chinese demand.
Nonetheless, higher lithium prices and initial lithium hydroxide earnings helped bump up the overall earnings figures.
The biggest loss for shareholders came from the board's decision to slash the final dividend by 43% over H2 FY21.
Mineral Resources did not declare an interim dividend in the first half of FY 2022. This was because of market uncertainty and a substantial reduction in iron ore prices over the first half of the year.
In FY 2021, the board paid out $2.75 in dividends to shareholders.
When calculating against the current share price, Mineral Resources has a trailing dividend yield of 1.43%.
Mineral Resources share price snapshot
Over the past 12 months, the Mineral Resources share price has risen 46% on the back of the commodity boom.
However, numerous market shocks in 2022 following the Russian war in Ukraine and steep inflationary movements impacted the company's shares.
Year-to-date, Mineral Resources shares are up 24%.
The company has a price-to-earnings (P/E) ratio of 38.76 and commands a market capitalisation of roughly $13.25 billion.
